A focus on oil and gold
Doc and Cory wrap up the markets with a look at the oil and precious metals markets. Oil and gold both bounced slightly today in the afternoon but does that mean they are setting up for a continued move up? When answering that question we also consider the bounce in GDX and GDXJ.
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The irony to all that is an appropriate hedge would have been a volatile asset that rises on a rise in the markets, in case your gold equity asset underperforms.
My losses were on NUGT, SPXS, SDOW, and USLV.
For instance, copper would have been an appropriate asset.
I had losses on HVU.TO. (volatility ETF) They announced a roll back this week of 10:1.
I bought TBT on the morning after Trump was elected, with a tight stop.
I expect to be stopped out in a few days; certainly before the end of this week.
Some potshares paid about 40% today, 20% yesterday.
Eventually people are going to catch on, right now some people have some kinda resistance to them.
Thats gonna change.
With pot stocks soaring, it may also be time to go all in on Doritos as well.
Im sure your not concerned Ex, profit being the primary motive, but Doritos uses palm oil, they are destroying the Indonesian rain forest faster than we have any hope of healing the damage. for Palm Oil…. for Doritos.
Big deal right? Just give me my 30 pieces.(ya gotta love capitalism without liberty)
And yes, palm oil is used for more than Doritos, but Doritos does help kill us.
Lets invest in Doritos.
Good idea Shad.
+1 Shad!
It was a joke b. Lighten up. You may want to smoke some of what you pumping.
Oh, 1 of my potshares has gone up 17% today, the others just 1%,2%,8% etc some are down a bit, so they look to be consolidating some more.
Thinking about it Shad, I know you would prefer a company under investigations for crimes against humanity was it, I mean…why invest in something that can help so many people when ya can get that crimes against humanity stuff?
Palm oil suits your style, look into Japanese whaling, maybe there is an opportunity there too.
Palm Oil, good grief, no wonder Hawkins says our time is growing short.
Who gives a crap about grandkids tho? Just give me my 30 pieces.
sheesh, I thought the doritos was a funny little joke, and you get nasty like that?
So b is for beotch too. No surprise.
Well, maybe I lose patience on occasion.
Sorry, Doritos and palm oil really is no joke tho.
My daughter and some of her friends are environmental scientists, I hear what we do to ourselves regularly.
Many investors honustly dont care about the consequences of their actions.
Again, sorry.
Liberty and all.
Good grief b. Talk about flying off the handle for no reason. It was just a joke, and FYI I haven’t eaten Doritos in years, nor have I ever been a proponent of Palm Oil.
B – I love that you whine all week about insults from Matthew, and then start making a totally unprovoked personal assault against me, and were quite assumptive and insulting.
Get something straight little b – you don’t know jack about what motivates me, have no idea what nutritional habits or practices I have, and shouldn’t prognosticate about what you think I know or my philosophies. It just makes you sound like a judgmental ass.
If I thought your apology had any sincerity it would be refreshing, but you’ve demonstrated repeatedly on here that you prefer lashing out and taking the low road. Good luck with that in life.
I read you wrong, GH made me rethink.
I apologized.
Good for you, b.
By the way, I’m a big fan of the cannabis revolution. But I’m not knowledgeable about the stocks. I was in MJNA at the beginning of August, but blew it by selling early and missed a 600% run.
Pure Gold Mining drills 2.1 m of 76 g/t Au at Madsen
2016-11-14 07:11 ET – News Release
Mr. Darin Labrenz reports
PURE GOLD INTERSECTS 76.0 G/T GOLD OVER 2.1 METRES AT RUSSET SOUTH, MADSEN
Pure Gold Mining Inc. has released results from drilling at the Russet South target located at the company’s 100-per-cent-owned Madsen gold project. These holes are part of the continuing 77,000-metre drill program designed to expand the high-grade Austin and McVeigh gold resource and to test and build continuity of high-grade gold mineralization at Russet South and other satellite targets. Three drill rigs are currently testing the McVeigh and Austin horizons and one rig is testing satellite targets.
So silver is seen as semi precious, semi industrial. Therefore it is perceived to enjoy the best of both worlds… Of late it would appear it enjoys the worst of both worlds. When the industrial sector is seen to be doing well such as the current instance of Dr copper, silver favours its precious metal aspect and a downward price bias ensues. When the pms are seen in favour during uncertain times (stagnating growth, diminishing economies, hedges against inflation, lower US dollar etc) then silver tends to lean towards its industrial aspect and a downward price bias ensues. Whats that area called between a rock and a hard place???
Oz…youve figured out silver.
CNN Dem Strategist Mocks White Trump Supporter Beaten In Chicago – “Oh My Goodness, Poor White People”
Over the past week we have written a couple of times about a shocking scene caught on tape in Chicago in which a 49-year old white man, David Wilcox, was beaten by a group of angry black men as onlookers shouted “you voted Trump? you gonna pay for that sh*t,” “beat his ass,” and “don’t vote Trump.”
Despite numerous acts of violence perpetrated by protesters in Portland, New York, Oakland and Philadelphia over the past week, neither Obama, Hillary or any other democratic leader has come forward to denounce the rioters. To make matters worse, Symone Sanders, a democratic strategist, went on CNN this morning and, when asked about the Wilcox situation, responded by openly mocking him, saying: “Oh my goodness, poor white people! Please!”
I think a rate rise in December is now virtually guaranteed.
I would suggest that if an interest rate rise occurs in December, it is only because Yellen is a raving socialist liberal. (I.e. A Californian nut)
It would have little to do with economics.
The economy may be picking up, but it is hardly booming.
However, if one wanted to create a recession, then an interest rate increase would be in order.
Either way, increase or no increase, it is becoming clear that the US Government will have increasing problems even with paying the interest payments due on the National Debt.
That’s why they call her mother felon. 😮
Interesting data point on MSM:
Of all contributions to Presidential candidate from reporters at Main Stream Media, newspapers and TV, Donald Trump received less than 4%
Does that say something about bias in reporting?
I think so.
John Oliver Has 30-Minute, On-Air, Nervous Breakdown Over Trump Victory – “It’s F***** Up!”
Back in 2013, John Oliver guest-hosted The Daily Show and mockingly begged Donald Trump to run for President:
“Do it! Do it! Look at me, do it. I will personally write you a campaign check now, on behalf of this country, which does not want you to be President but which badly wants you to run.”
Turns out Oliver probably should be more careful what he wishes for. After begging Trump to run for President in 2013, Oliver spent the entire 30-minute season finale of his show, “Last Week Tonight,” recording his own nervous breakdown over Trump’s victory. The full on-air meltdown can be viewed below, but here a couple of the key lines:
This is actually a good news story. It proves that the media elite and Hollywood were largely irrelevant in the ultimate outcome. Our country is not for sale and lots of leftists are now lighter in the wallet.
http://www.zerohedge.com/news/2016-11-14/soros-and-liberal-mega-donors-plot-war-donald-trump
Soros will be meeting with Democrats in Washington, DC.
I understand Putin has issued an international arrest warrant for Soros.
Will Obama honor his obligation to arrest Soros, and extradidite him to Russia?
Of course not, the Big Zero does not believe in law and order.
I tried to verify that Putin had issued an arrest order. I found lots of links, but they come from a wide variety of dates. This Lew Rockwell article, for instance, says the order was issued in 2014:
https://www.lewrockwell.com/2016/11/daisy-luther/soros-funding-trump-protests/
POSTED ON NOVEMBER 12, 2016 BY RAY STARMANN
PUTIN ISSUES INTERNATIONAL ARREST WARRANT FOR GEORGE SOROS … DEAD OR ALIVE
Russia has officially declared that Billionaire George Soros is a wanted man in their country, citing him and his organizations as a “threat to Russian national security”.
Putin banned Soros from Russia last year due to the fact that Soros helped to nearly destroy the Russian economy in the early 1990’s.
http://myfreshnews.com/russia-issues-international-arrest-warrant-convicted-felon-george-soros
Yeah, I saw lots like that. But some are from a few years ago.
I’m not saying it’s not true, but for such a major news item, I would think it would be a little more clear. I’m not sure what to make of it.
I certainly hope it’s true!
B, i hope your wrong but the pessimist in me thinks you are right… at least in the near term
Ozibaltla
I was just making a “jockularity” I dont have silver figured out in the least.
WASHINGTON (AP) — The head of the Securities and Exchange Commission, Mary Jo White, will leave office at the end of the Obama administration, the agency said Monday.
White, a former federal prosecutor and private securities lawyer, was appointed by President Barack Obama in February 2013. Her term doesn’t end until 2019.
President-elect Donald Trump is due to take office Jan. 20 and likely will name his own choice to head the market watchdog agency in the near future. His nominee could move to unwind restrictions on Wall Street banks and corporations. The Trump transition team has set as a goal to “dismantle” the Dodd-Frank reforms law enacted in response to the 2008 financial crisis.
Paul Atkins, a former SEC commissioner who is the team’s point man for financial regulatory agencies, is an avowed opponent of regulating Wall Street.
President-elect Donald Trump has said his first 100 days will be dedicated to restoring “honesty, accountability and change to Washington” through the following seven steps:
A Constitutional Amendment to impose term limits on all members of Congress
A hiring freeze on all federal employees to reduce federal workforce through attrition (exempting military, public safety, and public health)
A requirement that for every new federal regulation, two existing regulations must be eliminated
A five year ban on White House and Congressional officials becoming lobbyists after they leave government service
A lifetime ban on the White House officials lobbying on behalf of a foreign government
A complete ban on foreign lobbyists raising money for American elections
Cancel billions in payments to U.N. climate change programs and use the money to fix America’s water and environmental infrastructure
I can’t believe the Big Zero is going on yet another junket.
https://nypost.com/2016/11/14/president-obama-embarks-on-his-final-foreign-trip/
I have not kept track of Obama’s trips this year, but last year:
THE OBAMAS’ PERSONAL TRIPS IN 2015
Jan. 1-3 Family trip to Hawaii.
Feb. 19 President Obama trip to Chicago.
Feb. 14-16 Michelle Obama and daughters ski trip to Aspen, Colorado.
Feb. 14-16 President Obama golf outing to Palm Springs, California.
March 12 Michelle Obama trip to Los Angeles.
March 12-13 President Obama trip Los Angeles.
March 28-29 President Obama’s golf outing to Palm City, Florida.
June 15-21 First lady Michelle Obama, mother, daughters travel to the United Kingdom and Italy.
June 20-21 President Obama golf outing to Palm Springs, California.
July 17-19 Father-daughter weekend in New York.
Aug. 7-23 Family trip to Martha’s Vineyard, Mass.
Those 9 month’s worth of personal trips, AT TAX-PAYER EXPENSE, cost over
$100,000,000
What waste!
The President should pay for his own vacations, as Trump has promised.
Not when you consider his real legacy……. a better golf game. 🙂
Multibillionaire Carl Icahn, for example, recently increased his short positions by 600% … betting as much as $4,321,000,000 that the stock market will plummet sharply and suddenly!
George Soros — who is considered to be the most successful hedge fund operator in history for timing market crashes — is getting in on the action, too. He just made a $2.2 billion bet that the market would collapse.
Famed investor Jim Rogers went on record saying: “A $68 trillion world-wide collapse is poised to wipe out millions of Americans.” (He has not stated how short he is on US stocks)
Just about every major financial whale is taking specific steps against the market … all at the same time.
We haven’t seen this many concentrated bets on an immediate crash since 2008 when the stock market collapsed by 58%.
Unfortunately, it is pension funds and insurance companies that have been stupid enough to loan stocks to enable the shorting. Destroying their own wealth!
I thought ICAHN pumped a billion into stocks last week on the morning of the election result?
Copper has closed the last four sessions above the 600 day EMA. The last time it did that was almost four years ago.
Here’s what I said about it on a day that it plunged in early January:
http://stockcharts.com/h-sc/ui?s=%24COPPER&p=D&yr=1&mn=0&dy=13&id=p87070411465&a=487154642
4 Canadian Copper Stocks Shining on Trump Infrastructure Speculation
Posted By Smallcappower – November 14, 2016
Copper Mountain Mining Corp. $CUM , HudBay Minerals Inc. $HBM , Amerigo Resources Ltd. $ARG , Taseko Mines Ltd. $TKO
http://smallcappower.com/analyst-articles/4-canadian-copper-stocks-141116/
Cliff High on the coming banking collapse:
If gold closes this week below today’s low, the odds of a retest of the 1045 low will go way up.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=1&dy=0&id=p91799857561&a=480746762
Gold is sitting 17 cents above the 34 month MA but is well above the important 20 month MA which is currently 1203…
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=M&yr=17&mn=3&dy=22&id=p37018891870&a=473303339
Well matthew, frustration, angst and pessimism will be rampant if that occurs
You got that right, but based on how my juniors are doing overall, I don’t think it’s going to happen.
Those who aren’t on margin just need to be patient.
Gold and silver are done.
Trump is a game changer.
I mentioned that yesterday.
And Trumps pro growth message and infrastructure is not some cure for silver like it is copper.
My $1212.80 held but stocks will far far outpace gold and silver.
The next 4 years are all stocks.
Trump was the lightning that hit the rock.
Time to scramble the eggs.
JTL, such comments are worse than meaningless until you sell your metals to buy stocks.
The Fib arcs continue to act as support (and resistance):
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=4&mn=7&dy=0&id=p42226911202&a=369192745
Two more added to the “must go” list
Jim Willie
Andrew Macquire
Draining the Swamp
Let’s examine the magnitude of the US debt problem:
Let’s assume some major cutting of Government….
Assume Mr Trump saves money by completely eliminating the Department of Education ($70.7 Bil) ,the Department of Energy ($32.5 Bil), and the Labor Department($12.8 Bil).
Then assume he also eliminates the Environmental Protection Agency ($8.27 Bil).
Then let’s stop all foreign aid ($36.4 Bil).
This is still $40 Billion short of the additional annual interest expense on the $20 trillion federal government debt if rates rise 1%.
And I cannot see such drastic cutting as possible.
If interest rates rise by any significant percentage, the federal deficits are going to soar.
This is a death spiral until something breaks.
Matthew, how do you feel about copper going forward until end of this year and into 2017? Also, any thoughts on FCX? TIA
$SIL $SVCMF – SilverCrest Announces New Discovery at Las Chispas; Varela Veins with Multiple Results of Greater Than 1,400 gpt AgEq
VANCOUVER, BC – November 14, 2016
http://silvercrestmetals.com/news/2016/index.php?&content_id=300
Asanko Gold $AKG is a Top Takeover Target After Impressive Q3 Results
Toronto, Ontario (FSCwire) – Posted By Smallcappower – November 10, 2016
“We first wrote about the Asanko Gold Inc. $AKG story back in April, speculating that its low-cost production and country synergies would make the Company an ideal acquisition candidate for Newmont Mining Corporation $NEM . Since then, Asanko’s stock price has surged more than 45% and its most recent financial/operating results suggest that the Company is firing on all cylinders and may attract the attention other suitors…”
http://smallcappower.com/expert-articles/asanko-gold-101116/
$AVK $AVNZF Avnel Files Third Quarter 2016 Financial Statements and MD&A
-(Marketwired – Nov. 11, 2016) #GOLD #DEVELOPMENT
Those are some very nice high-grade intercepts from Silvercrest.
The loonie is stuck on a Fib arc…
http://stockcharts.com/h-sc/ui?s=%24CDW&p=W&yr=5&mn=0&dy=22&id=p20060875541&a=404783122
The Loonie better fly off that Fib arc or it’s a long road down…..
I like it when my full STO is in sync with the slow STO and in the position that they are in right now.
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=0&mn=10&dy=0&id=p13728494799&a=477198301
Notice that the RSI had finally become oversold for the first time since January.
A turn up from the RSI 40 area on the weekly chart makes sense if the loonie is entering a new bull market along with commodities — and I believe it is.
http://stockcharts.com/h-sc/ui?s=%24CDW&p=W&yr=3&mn=7&dy=0&id=p87133038948&a=443833933
Sgtreport ….comments on
Trump Trojan horse ?…
This is an off topic rant about Amazon, specifically their practice of increasing prices of items left in the shopping cart overnight. Like others at KER, I am a huge Amazin fan. I buy everything there. But their practice of increasing prices on items left in my cart overnight has angered me. My research has show the increased price matches the next best price of other online vendors. Most likely Amazon has software automatically researching and adjusting prices. It is ‘smart’ but is angering long time Amazon customers, and that is not smart. Personally, when Amazon does this I am making it a point to NOT buy that item from Amazon !
Travel sites often do the same thing by raising airline and hotel fees overnight if you leave their site up and refresh. (and they start that only 2 rooms left BS…).
The work around on some sites that is to shut down your browser, delete your browsing history and cookies and open a new browser after that. I’m not sure that would help with the “smart’ pricing on Amazon, but it may with other sites.
Cheers!
Crude Oil – Possibilities
by Peter Brandt – November 14, 2016
Globex Mining looks great and the 50 week MA is now above the 200 week MA:
http://stockcharts.com/h-sc/ui?s=GMX.TO&p=W&yr=3&mn=5&dy=0&id=p88419651850&a=460482617
An independent opinion:
https://miningwealth.com/substantial-upside-in-globex-mining-enterprises/
Golden cross on the weekly for Globex. Nice.
I bagged $51 net profits last week on $4000 in trades. My craziest week in 4 years of trading. But profit is profit! Made bank on DSLV, JDST (twice), UVXY, SQQQ, DWTI, and ASM. I lost almost as much as I made between wins and losses but managed to squeeze out a win. Hew!